Point72 DIFC Ltd Reduces Position in Veritex Holdings, Inc. (NASDAQ:VBTX)

Point72 DIFC Ltd lowered its position in Veritex Holdings, Inc. (NASDAQ:VBTX) by 71.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,621 shares of the financial services provider’s stock after selling 4,142 shares during the quarter. Point72 DIFC Ltd’s holdings in Veritex were worth $43,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Price T Rowe Associates Inc. MD increased its holdings in shares of Veritex by 9.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 24,014 shares of the financial services provider’s stock valued at $493,000 after acquiring an additional 2,162 shares during the period. CWM LLC increased its stake in Veritex by 1,302.9% in the second quarter. CWM LLC now owns 3,339 shares of the financial services provider’s stock valued at $70,000 after purchasing an additional 3,101 shares during the period. Wedge Capital Management L L P NC raised its holdings in shares of Veritex by 2.3% in the second quarter. Wedge Capital Management L L P NC now owns 114,757 shares of the financial services provider’s stock valued at $2,420,000 after buying an additional 2,574 shares during the last quarter. Louisiana State Employees Retirement System boosted its stake in shares of Veritex by 1.9% during the second quarter. Louisiana State Employees Retirement System now owns 27,400 shares of the financial services provider’s stock worth $578,000 after buying an additional 500 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Veritex by 60.9% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,831 shares of the financial services provider’s stock worth $228,000 after buying an additional 4,099 shares during the last quarter. 88.31% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have commented on VBTX. DA Davidson upped their price objective on Veritex from $30.00 to $33.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Raymond James upgraded Veritex from a “market perform” rating to a “strong-buy” rating and set a $30.00 price target for the company in a research note on Tuesday, September 17th. Piper Sandler lifted their price objective on shares of Veritex from $27.00 to $30.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. StockNews.com upgraded Veritex from a “sell” rating to a “hold” rating in a research report on Wednesday, October 30th. Finally, Keefe, Bruyette & Woods cut Veritex from an “outperform” rating to a “market perform” rating in a report on Thursday, October 24th. Three equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $29.40.

Insider Buying and Selling at Veritex

In other news, Director John Sughrue sold 16,820 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $30.25, for a total transaction of $508,805.00. Following the completion of the transaction, the director now directly owns 62,643 shares of the company’s stock, valued at $1,894,950.75. This trade represents a 21.17 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO C Malcolm Holland III sold 12,777 shares of the company’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $27.69, for a total value of $353,795.13. Following the completion of the sale, the chief executive officer now directly owns 224,132 shares in the company, valued at approximately $6,206,215.08. The trade was a 5.39 % decrease in their position. The disclosure for this sale can be found here. 4.60% of the stock is currently owned by insiders.

Veritex Price Performance

Shares of NASDAQ:VBTX opened at $29.61 on Tuesday. The firm has a market capitalization of $1.61 billion, a price-to-earnings ratio of 18.98 and a beta of 1.38. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.95 and a quick ratio of 0.95. The business’s 50 day simple moving average is $28.19 and its 200-day simple moving average is $24.62. Veritex Holdings, Inc. has a 12 month low of $18.08 and a 12 month high of $31.62.

Veritex (NASDAQ:VBTX) last posted its earnings results on Tuesday, October 22nd. The financial services provider reported $0.59 EPS for the quarter, topping analysts’ consensus estimates of $0.55 by $0.04. Veritex had a return on equity of 7.79% and a net margin of 11.11%. The company had revenue of $113.17 million for the quarter, compared to the consensus estimate of $110.22 million. During the same period in the previous year, the business earned $0.60 earnings per share. Veritex’s quarterly revenue was up 3.8% compared to the same quarter last year. As a group, equities analysts forecast that Veritex Holdings, Inc. will post 2.17 earnings per share for the current fiscal year.

Veritex Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Friday, November 8th were paid a $0.20 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $0.80 dividend on an annualized basis and a yield of 2.70%. Veritex’s payout ratio is 51.28%.

Veritex Company Profile

Veritex Holdings, Inc operates as the bank holding company for Veritex Community Bank that provides various commercial banking products and services to small and medium-sized businesses, and professionals. The company accepts deposit products include demand, savings, money market, and time accounts. Its loan products include commercial real estate and general commercial, mortgage warehouse loans, residential real estate, construction and land, farmland, paycheck protection program, 1-4 family residential, agricultural, multi-family residential, and consumer loans, as well as purchased receivables financing.